Russia's VTB reports sharp rise in July profit, reaffirms full-year forecast - Finance news and analysis from Global Banking & Finance Review

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Finance

Russia's VTB reports sharp rise in July profit, reaffirms full-year forecast

Published by Global Banking & Finance Review

Posted on August 28, 2026

1 min read

· Last updated: August 28, 2026

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Finance Banking Markets

Russia's VTB Sees 73% Year-on-Year Profit Surge in July, Targets 2026 Gains

VTB's Financial Performance and Future Outlook

July 2023 Profit Growth

MOSCOW, Aug 28 (Reuters) - Russia's second-largest lender VTB on Friday said that its July net profit had risen 73.4% year-on-year to 40.4 billion roubles ($469.77 million).

Long-Term Profit Targets

2026 Profit Ambitions

The bank reaffirmed its 2026 profit target of 600 billion roubles.

Exchange Rate Context

($1 = 86.0000 roubles)

Reporting and Editorial Credits

(Reporting by Reuters; Writing by Anastasia Teterevleva; Editing by Gleb Bryanski)

Key Takeaways

July net profit jumped 73.4% year‑on‑year to ₽40.4 billion (approx $470 million).
Bank reaffirms conservative full‑year profit target of ₽600 billion, dropping prior range of ₽600‑650 billion (interfax.ru).
VTB’s H1 net profit fell nearly 20% to ₽225.2 billion amid market setbacks, implying a strong H2 return needed to hit the annual goal (amp.rbc.ru).